In a trading statement released today, the country’s second biggest housebuilder said it welcomed the budget announcement that the scheme would come to a close in 2023.

It said: “Help to Buy has been popular with our customers and has supported them in getting onto and moving up the housing ladder, however we believe that the changes announced are appropriate and are in the best interests of the long-term health and fairness of the market.”

Meanwhile, the company announced it was trading in line with expectations, saying it expected to end 2018 with a net cash balance of around £600m, up from last year’s £511.8m.

Its order book, excluding joint ventures, currently stands at 9,783 homes, 12% above last year and is worth £2.4bn, an increase of 9%.

It also announced it planned to pay out £500m to shareholders in 2018 and increase this figure by 20% to £600m in 2019.